If you've been stuck searching for Mutual Fund Equity Report funds, you might want to consider passing on by T. Rowe Price International Discovery (PRIDX Quick QuotePRIDX - Free Report) as a possibility. PRIDX bears a Zacks Mutual Fund Rank of 5 (Strong Sell), which is based on various forecasting factors like size, cost, and past performance.

History of Fund/Manager

PRIDX is a part of the T. Rowe Price family of funds, a company based out of Baltimore, MD. T. Rowe Price International Discovery debuted in December of 1988. Since then, PRIDX has accumulated assets of about $2.93 billion, according to the most recently available information. The fund's current manager, Ben Griffiths, has been in charge of the fund since March of 2020.

Performance

Investors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 2.99%, and it sits in the middle third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 1.34%, which places it in the middle third during this time-frame.

It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.

When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 17.19%, the standard deviation of PRIDX over the past three years is 19.1%. Looking at the past 5 years, the fund's standard deviation is 20.31% compared to the category average of 18.15%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. PRIDX has a 5-year beta of 0.94, which means it is likely to be less volatile than the market average. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. With a negative alpha of -7.35, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Expenses

Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, PRIDX is a no load fund. It has an expense ratio of 1.22% compared to the category average of 1.13%. From a cost perspective, PRIDX is actually more expensive than its peers.

While the minimum initial investment for the product is $2,500, investors should also note that each subsequent investment needs to be at least $100.

Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.

Bottom Line

Overall, T. Rowe Price International Discovery ( PRIDX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and higher fees, this fund looks like a poor potential choice for investors right now.

Want even more information about PRIDX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.